Freehold Convenience Store and Residential Investment
Convenience store with Post Office let to Bestway Retail Limited until 2036 (no breaks)
Lease is subject to 5 yearly rent reviews
Includes two Self Contained flats, two separately let parking spaces and a Recording Studio
VAT free investment
Lot 3
Auction 10th December 2020
Rent £45,040 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles north of Plymouth
35 miles south west of Exeter
Roads
A386, A30, A38, M5
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation
Tavistock is a popular, attractive and thriving market town on the edge of Dartmoor national park. The property is prominently located in a busy location in the town centre on the west side of Abbey Place (A386).
Tenure
Freehold.
Location
Miles
15 miles north of Plymouth
35 miles south west of Exeter
Roads
A386, A30, A38, M5
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation
Tavistock is a popular, attractive and thriving market town on the edge of Dartmoor national park. The property is prominently located in a busy location in the town centre on the west side of Abbey Place (A386).
Tenure
Freehold.
Description
The property comprises a substantial convenience store with Post Office on the ground floor and ancillary accommodation on lower ground and basement floors. The property includes a recording studio to the rear and two 1 bedroom self contained flats on the first floor. The property benefits from car parking at the rear with spaces allocated for use by the commercial and residential tenants and two additional car parking spaces available for separate letting.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a substantial convenience store with Post Office on the ground floor and ancillary accommodation on lower ground and basement floors. The property includes a recording studio to the rear and two 1 bedroom self contained flats on the first floor. The property benefits from car parking at the rear with spaces allocated for use by the commercial and residential tenants and two additional car parking spaces available for separate letting.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Convenience Store
Ground Lower Ground Basement
Retail Ancillary
Ancillary
228.58sq m 8.48sq m
21.37sq m
(2,460 sq ft) (91 sq ft)
(230 sq ft)
BESTWAY RETAIL LIMITED (1)
20 years from 17/10/2016
£30,000
17/10/2021 and 5 yearly /(16/10/2036)
Recording Studio
Ground (Rear)
Studio
30.25 sq m
(326 sq ft)
INDIVIDUALS
10 years from 10/05/2016
£2,500
10/05/2021 / (09/05/2026)
Flat 1 and 2
First
Residential
2 x 1 bedroom
INDIVIDUALS
1 year assured shorthold tenancies
£11,880
-
Parking Space 1
-
Parking
-
TOWLS OF TAVISTOCK
Informal agreement
£660
-
Parking Space 2
-
Parking
-
VACANT
-
-
-
Total Commercial Floor Area
658.12 sq m
(7,084 sq ft)
£45,040
(1) Bestway Retail Ltd formerly Bargain Booze was incorporated in 1981. In 2017 Bestway Retail Ltd acquired over 100 Central Convenience Stores and now operate over 400 franchised stores and over 150 company owned stores throughout England and Wales, employing nearly 2000 people.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
